Page 91: of Maritime Reporter Magazine (March 1995)

President Names Aircraft

Carriers

President Clinton approved

Secretary of the Navy John

Dalton's recommendation to name

CVN-75 and CVN-76, Nimitz-class aircraft carriers currently autho- rized for construction, the USS

Harry S. Truman and USS Ronald

Reagan, respectively. "Our military today is the best- equipped, best-trained and best- prepared fighting force in the world", the President said in a state- ment. "These two aircraft carriers represent my pledge to ensure our security is underpinned with mili- tary forces that are ready to fight.

It is because of their enduring con- tributions in protecting our nation's security that we honor these two

Presidents of different parties and different times."

Essex Wins Navy Contract

Essex Corp. said it was awarded a $6 million contract by the U.S.

Navy to provide engineering sup- port. The work will be performed in the company's N.H. facility.

Pena To Address Technology

Meeting

U.S. Secretary of Transportation

Federico Pena will address 4,000 transportation leaders expected to convene for the Fifth Annual Meet- ing of the Intelligent Transporta- tion Society of America (ITS

America), March 15-17 at the

Sheraton Washington Hotel in

Washington, D.C.

The event will bring together government officials, business ex- ecutives, engineers, scientists and academics from around the world.

Approximately 125 U.S. and inter- national exhibitors will display the latest intelligent transportation systems technologies and products during the meeting.

For more information on the ITS

America Annual Meeting, contact

Sandra Fitzgerald at tel: (202) 484-2902.

Pacific Basin Acquires $120 Million Debt Facility

Pacific Basin Bulk Shipping Ltd. announced the signing of a $120 million debt facility, arranged as a seven year revolving credit by the

Hongkong and Shanghai Banking

Corp. and Den norske Bank A.S.

The funds — payable over seven years at the rate of $10 million annually with a final repayment of $50 million in the year 2002 — will be used to refinance certain matur- ing loans and to provide the debt portion of finance for the 14 handysize vessels which the com- pany has already acquired.

Pacific Basin Bulk Shipping spe-

March, 1995 cializes in the acquisition, operation, employment and sale of handysize dry bulk carriers.

Kollmorgen Awarded $35 Million Navy Contract

Kollmorgen Corp. announced that its Electro-Optical Div. received a contract valued at $35 million from the Naval Sea Systems Command for design and construction of the

U.S. Navy's Photonics Mast. The contract includes various produc- tion options valued at up to an addi- tional $46 million. Kollmorgen will serve as prime contractor and is teamed with Hughes, Raytheon and

AEL Industries. The initial devel- opment phase is scheduled for completion in 1998 and the contract options could extend into the year 2000.The Photonic Mast system is a non-hull penetrating electro-optical sensor system which provides vis- ible and infrared imaging, image enhancement and storage, laser ranging, electronic warfare support measures (ESM) and communica- tions capabilities. This system is planned for installation on the new attack submarine and may also be backfitted onto SSN 21 and 688 class submarines.

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